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Happy Friday and welcome to another week of the digest!
These weekly posts are free and I hope you’ll consider sharing them as a way to say thank you.
Introducing additional expenses to tenants has a cost
Best LP podcasts (let me know if you know of others and note that the below are venture capital related, but I still think that’s very valuable to learn from)
On the relationship between GP coinvest % vs the percentage of the coinvest relative to the GP’s net worth
A great reminder about Real Estate Twitter
No deal (for GP or LP) will be perfect (this has to be true because all investments carry risk) & therefore there will always be unknowns - just make sure you’re aware of the sensitivities around those unknowns
How have Net Asset Values adjusted in Private vs Public Markets?
What makes a great investor? Long form article here.
Thank you for reading! I genuinely hope you found this helpful - the best way to say thank you is to spread the word.
I advise LPs on existing and potential positions and write articles here weekly on what I see in the marketplace that could help you invest better. You can find me on LinkedIn or Twitter.
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When you’re ready, I could help you in 3 ways - simply reply to this email if one is of interest:
Limited Partners:
Potential positions - you’re considering investing and need an independent opinion
Existing positions - there’s a lack of communication, you’re concerned about fraud, or perhaps you got a capital call request and you’re not sure how to proceed. I have also helped LPs with a “post-mortem” analysis on deals that didn’t work out - it’s important to learn these lessons as opposed to just blaming the GP.
LP Cohort - review 4 separate investments together with me and other LPs to learn how to properly vet LP investments. I have 1 spot remaining in the January cohort.
LP Community - free 1,300+ member LP Investor community on Twitter
Find GPs in unique asset classes/geographies on my monthly intro post (see LinkedIn’s post as well for more)
General Partners:
Deck review - I’ll look over your marketing materials from the perspective of an LP and provide slide by slide commentary to improve your pitch
Investment review - I’ll provide independent feedback on an opportunity you’re pursuing
Capital call advisory - you suspect that you’ll need to make a capital call, but aren’t sure how to proceed or communicate the message.
Other - anything from waterfall/fee advisory to disagreements between co-GPs on the proper path given a set of circumstances
General Consulting: modeling, strategic advisory, underwriting training, etc.
If you’d like to speak on the phone, you can set up an initial consultation.